Mainland Portugal Housing Market Sees 0.9% Price Increase in January

Discover the latest data from Confidencial Imobiliário on the steady growth of housing prices in mainland Portugal, with a 12.1% year-on-year increase in January.

In January, the housing market in mainland Portugal saw a slight increase in sale prices, with a 0.9% variation compared to December 2023. This trend of gradual monthly appreciation has been consistent since the second half of last year, according to data collected by Confidencial Imobiliário through the Residential Price Index. Year-on-year, prices showed a growth of 12.1% in January, maintaining stable appreciation levels around 12.0%.

It is worth noting that in December 2023, the year-on-year rate of change was 11.8%, marking a year characterized by a slowdown in the rate of increase in housing prices. This cooling effect resulted in a year-on-year appreciation of 6.9 percentage points lower than that observed at the end of 2022 (18.7%).

Data from the SIR-Residential Information System reveals that houses in mainland Portugal were transacted at an average price of €2,396/m2 in January 2024, over a three-month period. New homes commanded an average value of €3,656/m2 in transactions during this period, while used homes had a value of €2,243/m2.

The housing market in mainland Portugal continues to show steady growth in sale prices, with a slight increase in January 2024 compared to the previous month. Year-on-year appreciation remains stable, reflecting a market that is experiencing a gradual but consistent upward trend.